It’s already evident that 2015 will be marked by talk of changing mortgage rates and regulations. Rates should stay low, but consumers and finance experts alike believe that we’re at or near rate bottoms. Early indications point to more sales, more listings, more new construction and more excitement. It’s not expected to be the overblown land grab of the early 2000s, but it should feel like a healthy market, which, in and of itself, may feel like an odd sensation to real estate practitioners accustomed to the boom and bust of the 21st century.

New Listings were down 20.8 percent for single family homes and 35.8 percent for Condo/TIC/Coop properties. Pending Sales decreased 15.9 percent for single family homes and 20.5 percent for Condo/TIC/Coop properties.

The Median Sales Price was up 5.4 percent to $975,000 for single family homes but decreased 2.4 percent to $927,000 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 26.7 percent for single family units and 29.4 percent for Condo/TIC/Coop units.

The 3 percent downpayment programs from Fannie Mae and Freddie Mac should help potential new homeowners, but in a recent member survey by the Independent Community Bankers of America, three-fourths of respondents stated that regulatory burdens are hurting their ability to loan money. The wider economy shows slight wage increases and gas prices near five-year lows but rising along with extended daylight and buyer demand. These various economic pushes and pulls can turn stagnant markets into exciting ones. It’s all in how you look at it.